Aurora Acquisition Corp (AURC)

[WhiteSahara]

Gold price tied to cost of oil and other thoughts- Some great dialogue from some here yesterday IMO. Trops, I really like your analysis based on "proven reserves" thank you for providing your point of view. Along with that, I talked with my accountant yesterday. He worked for Price Waterhouse before being an independent. He said they always underestimate something like reserves to protect their reputation. 2Create, I really appreciate your value analysis. We are within pennies of each other right now if I bump the PE up to about 12 but I'm leaving it where it is to cover any taxes. Congratulations to Rrufff, 2Create, and Bighorn on being our new moderators. Hope you walk quietly but carry a big stick with all of us incorrigibles.

It seems Iran, Nigeria, Iraq, Al Qeada, and an increase in demand for oil worldwide will keep the prices high and climbing.
We sit in a natural price hedge with AURC with the potential to be far more than just a hedge against inflation and turmoil.

All in my humble opinion- Airdale

Precious metals and energy stocks

Gold regains ground, rises more than one percent

LONDON, Feb 9 - A security scare in the United States and a recovery in crude oil prices lifted gold more than one percent on Thursday as fund buyers returned to the market.

The metal was now seen moving up towards last week's 25-year peak, dealers said.

"The markets have stabilised and the sell-off has not become a complete panic. For the moment, it looks like just a healthy correction," said Stephen Briggs, economist at SG Corporate and Investment Banking.

He said metals had become a fashionable investment and the appetite had not diminished.

"For the time being, nobody wants to miss out and more and more people are being told: 'Look at these other people who have made money by being in metals, you have lost money, you must get into commodities,'" Briggs said.

Spot gold rose to as high as $559.50 ounce before retreating to $558.10/559.00 by 1026 GMT. That was higher than $550.10/551.00 late in New York but remained below last week's $574.60, the highest since January 1981.

A suspected nerve agent forced the evacuation of the Senate office building late on Wednesday until tests concluded the vapour that set off the alarm was harmless, police said.

"The bulls may be concerned about terror attacks, and that triggered some buying," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong, adding that stop-loss buying had emerged at $555.

Oil recovered to around $63 a barrel, after being pushed down by a big build in U.S. gasoline stocks that created a supply cushion ahead of summer demand. [nSP122237]

Other markets also improved, with base metals trading above the previous day's closes and looking set to consolidate before heading higher. [nL09698927]

BULLISH TONE

"With gold seemingly finding support in the $540's and regaining the $550 level, the metal is likely to be cautiously bullish with targets above of $560 and $580," Standard Bank said in its daily market note.

Merrill Lynch said it had raised its long-term gold price forecast to $500 from $400 because of rising fabrication demand and chances of only modest growth in mine production.

Gold fell to its lowest level in three weeks at $544.90 an ounce on Wednesday after fund managers booked profits from the metal's recent highs. Gold gained 18 percent in 2005 and about 10 percent this year.

Other precious metals tracked gold's gains, with platinum rising more than 1 percent and silver moving away from its lowest level in two weeks.

But gold trading is expected to be volatile, with more liquidation seen in Tokyo futures in coming days. Dealers also noted limited demand from jewellers and investors despite the recent correction.

Platinum increased to $1,064/1,068 an ounce from $1,047/1,051 late in New York. Palladium also rose to $297/301 an ounce from $288/293.

Silver rose to $9.55/9.58 an ounce from New York's levels of $9.42/9.45 an ounce, and off a two-week low of $9.23 hit on Wednesday